February 22, 2012 (Calgary, AB) - avenue living is pleased to annouce the recent purchase of a 4 building portfolio comprising of 161 units in Swift Current, Saskatchewan. This $9.66 million acquisition is highly accretive to the portfolio and now adds Swift Current as an operational center. This marks our first acquisition of the year and widens our breadth and scope in the Province of Saskatchewan.

Carl Diodati, Chief Investment Officer of Avenue Living commented that: "The addition of Swift Current to our operational scope is a testament to our continued belief in the strong economic fundamentals of the Province.  We still think that secondary markets in Saskatchewan are being improperly priced by participants; as a result, we will continue to pursue similar opportunities."

About avenue living

Based in Calgary, Alberta, avenue living is Western Canada's fastest growing private apartment building owner and operator. We came from humble beginnings with a few buildings in Southern Alberta, and in just over four years have grown to manage over 2000 rental apartments in the Prairie Provinces. We now own and operate buildings in Brooks, Edmonton, Lethbridge, Moose Jaw, Regina, Saskatoon, Swift Current, Winnipeg and Yorkton, and continue to expand into new markets. Despite our rapid growth, we remain primarily focused on placing our valued customers' needs first and providing them with quality homes and apartments for rent. We also believe in providing our customers with housing solutions that let them actively participate in reducing their impact on our environment when renting with us, by continuing to upgrade our buildings to make them more energy efficient.

avenue living | 403.984.9363 | Calgary, Alberta | www.avenueliving.ca

by Communications Team